Company Overview - QXO, Inc. distributes roofing, waterproofing, and other building products in the United States, targeting the fragmented $800 billion U.S. building materials industry [3][4] - The company was launched through an overhaul of SilverSun Technologies and a $1 billion equity infusion, primarily from Brad Jacobs [4] Leadership and Strategy - Brad Jacobs, a serial industrial entrepreneur with a 40-year track record, is focused on consolidating the building materials distribution sector through disciplined M&A and operational improvements [3][4] - QXO's strategy includes rebranding and streamlining acquired companies, flattening organizational structures, aligning incentives with shareholders, and implementing technology across various functions [4][5] Financial Projections - The company targets a base-case scenario of $50 billion in revenue by 2032-2035, with 13% EBITDA margins and a 13x multiple, implying a potential share price of $48, representing a 13%-14% IRR [5] - As of January 28th, QXO's share was trading at $23.24, with trailing and forward P/E ratios of 2.11 and 66.67 respectively [1] Market Performance - QXO's stock price has appreciated by approximately 86.51% since a previous bullish thesis was published in April 2025, reflecting increased investor confidence [7]
QXO, Inc. (QXO): A Bull Case Theory